Solana looking quite bearish here as we're breaking ou of the reversal pattern and if we take a look at SOL/ETH we can see that SOLANA is extremely overvalued against ethereum which imo will lead for a dump in solana price.
I'll speak in another post about SOL/ETH.
As for now i do see sol heading back to 150 UPCOM:ISH and below to a 125$ level which would be...
FTX will be refunding around 16 BILLION USD (in stables) back to its customers from tomorrow on which is overall a very good thing, why? because it is capital that could ENTER the market as customers receive it back in stables so their is no way that that money/liquidity can leave the market.
As this will happen it could cause a pump in FTX's token FTT.
FTT is...
Triangle breakout here for ETH but thats not enough. We need ETH to break above 2820$ on the daily in order to see more upside momentum, targetting 3100$ and 3600$ to start with.
All eyes on the daily key level but if we break above, alts could start recovering too.
Key demand zone here for ETHBTC holding support here is SUPER CRUCIAL for atlcoins and ethereum itself.
If we don't expect many alts to make new lows before MAYBE reversing.
A bearish ETHBTC = BTC.D bullish = alts bleeding
A bullish ETHTC = BTC.D bearish = alts pump
only time will tell. Im sitting on the sidelines and max betting on some projects out there...
Wouldn't this be the perfect outcome? something many aren't seeing anymore at this point.
One thing i've been noticing is that social behavior is massively changing and people are litteraly stcuk in the trenches and hating on each other for being bullish or bearish which is basically the type of behavior like what we had in 2020 during COVID.
I overall remain...
Imagine that we actually keep on ranging, don't have an alt szn till a few years from now and we all get desperat.
Something i personally hope it won't happen as many aren't prepared for this type of situation but definitively something to keep in mind.
Is a pro crypto president really the good thing for crypto? I start to doubt it.
Bitcoin Dominance is nearing a very crucial level here at 63-64% and honestly i hope we see a rejection here and the decent starts as that could be the kickoff for alt szn.
As long as BTC.D is seeing upside momentum we'll see alts continuing to bleed which will create an EXTREME amount of fear within the bull market but perhaps thats exactly what we need before...
